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HR 2685 110th Congress House Economics and Public Finance Armed Forces and National Security Authorization Balanced budgets Budget deficits Budget reconciliation Budget resolutions Budget surpluses Congress Congressional Record Congressional budget Congressional committees Congressional reporting requirements Congressional voting Defense budgets Disaster relief Emergency Management Expedited congressional procedure Federal budget process Federal budgets

Fiscal Honesty and Accountability Act of 2007

Introduced: June 12, 2007 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 2, 2007
Sponsor introductory remarks on measure. (CR H11147)
Jun 12, 2007
Referred to the Committee on the Budget, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jun 12, 2007
Introduced in House
 Plain-English summary Congressional Research Service

Fiscal Honesty and Accountability Act of 2007 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to extend Pay-As-You-Go requirements through FY2012 and enforcement mechanisms through FY2016.

Requires the Directors of the Congressional Budget Office (CBO) and of the Office of Management and Budget (OMB) each to report to the House Committee on the Budget on how to broaden the Pay-As-You-Go sequestration base and make it more fair and equitable.

Extends through FY2011 the spending limits (spending caps) for the discretionary categories in new budget authority and outlays.

Amends the Congressional Budget and Impoundment Control Act of 1974 to address issues of emergency spending by requiring: (1) Committee on the Budget guidelines; (2) a separate House vote on an emergency designation; and (3) detailed reserve funds for emergencies in the President's budget request to Congress. Prescribes a procedure for adjustments in committee allocations resulting from such spending in joint budget resolutions.

Amends the Congressional Budget Act of 1974 (CBA) to prohibit floor amendments to amendments reported by the Committee on the Budget (or from the consideration of which the Committee has been discharged) with respect to legislation for emergency reserve funds for certain military operations.

Prohibits consideration of an amendment to a joint budget resolution which changes the amount of budget authority and outlays set forth in the CBA for the emergency reserve fund.

Requires reports on legislation which provide new budget, spending, or credit authority, or otherwise provide an increase or decrease in revenues or tax expenditures, to include a CBO projection of the cost of debt servicing (interest).

Amends the CBA concerning: (1) CBO cost analysis (scoring) for conference reports; (2) legislation which evades specified budget enforcement mechanisms; and (3) legislation which is unreported by committee (for purposes of budget point of order rules).

Amends the Rules of the House of Representatives concerning: (1) budget compliance statements (permitting inclusion of budgetary implications); (2) requirements for budget act waivers (inclusion mandatory for bill consideration); and (3) a separate vote to waive a major budget act point of order.

What's happening now October 2, 2007

Sponsor introductory remarks on measure. (CR H11147)

 Committees of jurisdiction 2
 Cosponsors 3
All 3 Democratic 3